Thank you John Wesley for this . I have always thought a country should add the Buddhist version to the narrowness in thought of the GDP. The Buddhist approach to measuring a country's state focuses on well-being and happiness rather than GDP. Bhutan's Gross National Happiness (GNH) exemplifies this, encompassing dimensions like psychological well-being, health, education, time use, cultural diversity, good governance, community vitality, ecological resilience, and living standards. This holistic method aims for a balanced and harmonious society, valuing more than just economic growth.
but, doesn't it matter who comes & stays? Immigrants all have to find jobs & pay for food/clothing/shelter/communications...adding to the GDP, eh? Is it the substantial numbers of retirees from ON and points west, moving to NS that are the "dead-weight" in the equation? Even those have to spend $ to live ( and buy/build properties). Is pension & interest income counted in determining GDP? I don' get it. Is inflation just a wash & doesn't count? I'd think the inflation $ going out of Province to Rogers & Westons, Irving & Waltons, Loblaws & etc., would be a drain on NS GDP.
The GDP numbers, whatever their other weaknesses, are inflation adjusted.
It's not about the 'quality' of immigrant or the source. It's a simpler math than that.
It's the total GDP, or whatever the measure, divided by the total number of people.
As I noted in the post, the economy is not keeping up with the population growth... the theory is not proving true. The plan is not working.
Separately it is true that Nova Scotia has an incredibly efficient and near friction-less out conveyor of wealth. You mention Loblaws, Irvings, etc. but they are small beer compared to the automobile industrial complex that includes the banks, insurance companies, gas and power producers, road builders, etc.
Thank you John Wesley for this . I have always thought a country should add the Buddhist version to the narrowness in thought of the GDP. The Buddhist approach to measuring a country's state focuses on well-being and happiness rather than GDP. Bhutan's Gross National Happiness (GNH) exemplifies this, encompassing dimensions like psychological well-being, health, education, time use, cultural diversity, good governance, community vitality, ecological resilience, and living standards. This holistic method aims for a balanced and harmonious society, valuing more than just economic growth.
Jim
It's true. There are any number of alternatives and even the creator of the GDP thought it was being miss-used and abused for political purposes.
but, doesn't it matter who comes & stays? Immigrants all have to find jobs & pay for food/clothing/shelter/communications...adding to the GDP, eh? Is it the substantial numbers of retirees from ON and points west, moving to NS that are the "dead-weight" in the equation? Even those have to spend $ to live ( and buy/build properties). Is pension & interest income counted in determining GDP? I don' get it. Is inflation just a wash & doesn't count? I'd think the inflation $ going out of Province to Rogers & Westons, Irving & Waltons, Loblaws & etc., would be a drain on NS GDP.
The GDP numbers, whatever their other weaknesses, are inflation adjusted.
It's not about the 'quality' of immigrant or the source. It's a simpler math than that.
It's the total GDP, or whatever the measure, divided by the total number of people.
As I noted in the post, the economy is not keeping up with the population growth... the theory is not proving true. The plan is not working.
Separately it is true that Nova Scotia has an incredibly efficient and near friction-less out conveyor of wealth. You mention Loblaws, Irvings, etc. but they are small beer compared to the automobile industrial complex that includes the banks, insurance companies, gas and power producers, road builders, etc.